Rydex Investments has filed paperwork with the SEC for a “CurrencyShares Chinese Renminbi Trust.” The Shares are intended to provide institutional and retail investors with a simple, cost-effective means of gaining investment benefits similar to those of holding Chinese Renminbi. The costs of purchasing Shares should not exceed the costs associated with purchasing any other publicly-traded equity securities. The Shares are an investment that is:
- Easily Accessible. Investors are able to access the market for Chinese Renminbi through a traditional brokerage account. The Shares are bought and sold on NYSE Arca like any other exchange-listed security.
- Exchange-Traded. Because they are traded on NYSE Arca, the Shares will provide investors with an efficient means of implementing investment tactics and strategies that involve Chinese Renminbi. NYSE Arca-listed securities are eligible for margin accounts. Accordingly, investors are able to purchase and hold Shares with borrowed money to the extent permitted by law.
- Transparent. The Shares are backed by the assets of the Trust, which does not hold or use derivative products. The value of the holdings of the Trust are reported on the Trust’s website, www.currencyshares.com, every business day.
The CurrencyShares® Chinese Renminbi Trust (Trust) issues Chinese Renminbi Shares (Shares) that represent units of fractional undivided beneficial interest in, and ownership of, the Trust. The Shares will be offered and sold to the public by Authorized Participants at varying prices in U.S. Dollars (USD) determined by reference to, among other things, the market price of the Chinese Renminbi and the trading price of the Shares on NYSE Arca, Inc. (NYSE Arca) at the time of each sale. Authorized Participants will not receive from the Trust, the Sponsor or any of their affiliates, any fee or other compensation in connection with the sale of Shares. Authorized Participants may receive commissions or fees from investors who purchase Shares through their commission- or fee-based brokerage accounts.
The Shares will be listed and trade on NYSE Arca under the symbol “FXCH.” The Shares may also trade in other markets, but the Sponsor has not sought to have the Shares listed by any other market.
For more information on this fund click: HERE